SECURITIES AND EXCHANGE COMMISSION
     Washington, D.C.


     Litigation Release No.   15747 / May  19, 1998

     SECURITIES AND EXCHANGE COMMISSION V. CARLOS ROMAN, ET AL. 
     Civil Action No. 94-3621 SAS  (S.D.N.Y, filed May 17, 1994.)

     On April 20, 1998,  the Honorable Shira A. Scheindlin ,  United States
     District Court Judge for the Southern District of New York, granted the
     Commission s Motion for Entry of Final Judgment by Default Against
     Defendant William E. Dorsch.   The Court s order permanently restrains and
     enjoins Dorsch from violating Sections 10(b) and 14(e) of the Securities
     Exchange Act of 1934 and Rules 10b-5 and 14e-3 thereunder.   The  Order
     additionally requires Dorsch to disgorge his profits of $1,083,250  plus
     prejudgment interest of $1,161,849.87, from the purchase and sale of
     securities of Time, Inc., Squibb Corporation and Lin Broadcasting, as
     complained of in the Complaint.  In addition, the Order requires Dorsch to
     pay  $3,249,750 as a penalty under the Insider Trading Sanctions Act of
     1984.   Under terms of the Order, payment of disgorgement and interest is
     to be made into the registry of the Court pending further order of the
     Court.

     On March 12, 1997,  Judge Scheindlin granted the Commission s Motion for
     Entry of Final Judgment by Default Against Defendant Carlos Roman.  The
     Order permanently restrains and enjoins Roman from violating Sections 10(b)
     and 14(e) of the Exchange Act and Rules 10b-5 and 14e-3 thereunder and 
     orders Roman to disgorge  (a) $714,118.75, representing his profits from
     the purchase and sale of the securities of Time,  Squibb, Combustion
     Engineering, Inc. and American General Corporation; (b)  $1,083,250,
     representing William Dorsch s profits on his purchases ; (c) $300,233.81
     representing profits of Andrew Cohen from the purchase and sale of the
     securities of Time, Squibb, Combustion, LIN and AmGen and ; (d)
     $1,315,396.90 representing prejudgment interest on the profits made by
     Roman, Dorsch and Cohen from the purchase and sale of Time, Squibb,
     combustion, LIN and AmGen securities.  Under terms of the Order, payment of
     disgorgement and interest is to be made into the registry of the Court
     pending further order of the Court.

     The Commission s complaint, filed on May 17, 1994,  alleges that the
     defendants engaged in illegal insider trading.  (LR  14089 ).











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